Jonathan Wong
The Latest
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California Sues ExxonMobil Over Alleged Deception in Plastic Pollution Crisis
California has launched a groundbreaking lawsuit against ExxonMobil, accusing the oil giant of misleading the public for decades about the role plastic recycling could play in solving the global plastic waste crisis. The lawsuit, announced on Monday by California Attorney General Rob Bonta, seeks to hold ExxonMobil accountable for its alleged role in exacerbating the plastic pollution problem by promoting recycling as a viable solution despite knowing its limitations. 
California has launched a groundbreaking lawsuit against ExxonMobil, accusing the oil giant of misleading the public for decades about the role plastic recycling could play in solving the global plastic waste crisis. The lawsuit, announced on Monday by California Attorney General Rob Bonta, seeks to hold ExxonMobil accountable for its alleged role in exacerbating the plastic pollution problem by promoting recycling as a viable solution despite knowing its limitations. -
Boeing Offers 'Best and Final' Deal with 30% Wage Increase to Striking Workers, But Labor Dispute Threatens Broader Economic Impact
Boeing has presented a revised contract offer to more than 30,000 striking machinists, marking its "best and final" proposal as the labor action continues to stall the aerospace giant's aircraft production. 
Boeing has presented a revised contract offer to more than 30,000 striking machinists, marking its "best and final" proposal as the labor action continues to stall the aerospace giant's aircraft production. -
UniCredit Increases Stake in Commerzbank, Seeks Up to 29.9% Amid European Banking Consolidation Efforts
Italy's UniCredit has announced a significant increase in its stake in Germany's Commerzbank, moving its holding to nearly 21% and applying to increase its ownership to as much as 29.9%. This bold move by UniCredit comes at a time when European banks are under pressure to consolidate and compete more effectively on the global stage. The Italian lender's move underscores the importance of cross-border cooperation within the European banking sector, an area that has often been fragmented compared to the U.S. market. 
Italy's UniCredit has announced a significant increase in its stake in Germany's Commerzbank, moving its holding to nearly 21% and applying to increase its ownership to as much as 29.9%. This bold move by UniCredit comes at a time when European banks are under pressure to consolidate and compete more effectively on the global stage. The Italian lender's move underscores the importance of cross-border cooperation within the European banking sector, an area that has often been fragmented compared to the U.S. market. -
Apollo Eyes $5 Billion Investment in Intel Amid Tech Sector Turmoil
Apollo Global Management, the U.S.-based private equity firm, is reportedly considering a significant investment in Intel Corp., potentially injecting as much as $5 billion into the struggling semiconductor giant. According to a Bloomberg News report, Apollo has signaled its interest in making an equity-like investment in Intel, though discussions remain in the early stages and no formal agreement has been reached. This potential investment comes at a critical juncture for Intel, which has seen its market value plummet in recent years. 
Apollo Global Management, the U.S.-based private equity firm, is reportedly considering a significant investment in Intel Corp., potentially injecting as much as $5 billion into the struggling semiconductor giant. According to a Bloomberg News report, Apollo has signaled its interest in making an equity-like investment in Intel, though discussions remain in the early stages and no formal agreement has been reached. This potential investment comes at a critical juncture for Intel, which has seen its market value plummet in recent years. -
FedEx Shares Drop 14% After Weak Earnings Signal Economic Slowdown
FedEx Corp. (FDX) is facing increasing pressure as its latest earnings report revealed a significant miss on both profit and revenue expectations, triggering a sharp drop in its stock price. Shares of the shipping giant plummeted nearly 15% following the release of its fiscal first-quarter results, marking its biggest intraday decline in two years. The disappointing performance is being interpreted as a broader economic warning, with FedEx often seen as a bellwether due to its wide exposure to global industries, from retail to manufacturing. 
FedEx Corp. (FDX) is facing increasing pressure as its latest earnings report revealed a significant miss on both profit and revenue expectations, triggering a sharp drop in its stock price. Shares of the shipping giant plummeted nearly 15% following the release of its fiscal first-quarter results, marking its biggest intraday decline in two years. The disappointing performance is being interpreted as a broader economic warning, with FedEx often seen as a bellwether due to its wide exposure to global industries, from retail to manufacturing. -
Prolonged Boeing Strike Could Escalate Losses Amid Tight Labor Market
Boeing Co. is facing one of its most challenging labor disputes in recent memory as 33,000 unionized workers walk picket lines demanding better pay, benefits, and job security. 
Boeing Co. is facing one of its most challenging labor disputes in recent memory as 33,000 unionized workers walk picket lines demanding better pay, benefits, and job security. -
Trump Media Shares Hit New Low as Lockup Restrictions End, Sparking Sell-Off Fears
Shares of Trump Media & Technology Group (TMTG) tumbled to a record low at the opening bell on Friday, marking the first trading day when former President Donald Trump, the company's largest shareholder, could sell his stake. The drop comes after "lockup" restrictions expired, which had previously prevented Trump and other early investors from offloading their holdings. 
Shares of Trump Media & Technology Group (TMTG) tumbled to a record low at the opening bell on Friday, marking the first trading day when former President Donald Trump, the company's largest shareholder, could sell his stake. The drop comes after "lockup" restrictions expired, which had previously prevented Trump and other early investors from offloading their holdings. -
Nike Taps Insider Elliott Hill as New CEO to Reclaim Market Dominance After Struggles Under Donahoe
Nike is making a bold move to revitalize its brand and recover from a period of financial stumbles, announcing that 32-year company veteran Elliott Hill will take over as CEO from John Donahoe. Hill's appointment, effective October 14, comes as the iconic sportswear giant looks to steer back toward its product-focused roots after years of struggle under Donahoe's tech-driven leadership. 
Nike is making a bold move to revitalize its brand and recover from a period of financial stumbles, announcing that 32-year company veteran Elliott Hill will take over as CEO from John Donahoe. Hill's appointment, effective October 14, comes as the iconic sportswear giant looks to steer back toward its product-focused roots after years of struggle under Donahoe's tech-driven leadership. -
Trump Media Stock Slides as Lockup Period Nears Expiration: Will Insiders Cash Out?
Shares of Trump Media & Technology Group, the parent company of the social media platform Truth Social, took a hit at the opening of Thursday's trading session, with the stock falling 5%. The drop comes just hours before the expiration of a lockup agreement that has restricted former President Donald Trump, who holds a nearly 57% stake in the company, and other insiders from selling their shares. The expiration could potentially lead to significant stock sales, causing uncertainty in the market. 
Shares of Trump Media & Technology Group, the parent company of the social media platform Truth Social, took a hit at the opening of Thursday's trading session, with the stock falling 5%. The drop comes just hours before the expiration of a lockup agreement that has restricted former President Donald Trump, who holds a nearly 57% stake in the company, and other insiders from selling their shares. The expiration could potentially lead to significant stock sales, causing uncertainty in the market. -
Boeing Faces Major Setback as Strike Forces Tens of Thousands into Furlough
Boeing has been thrust into the spotlight after announcing the furlough of tens of thousands of employees as its workers strike, halting production of the company's best-selling aircraft. This move, which impacts a wide range of U.S.-based executives, managers, and employees, comes amid a labor dispute with the International Association of Machinists and Aerospace Workers (IAM). The union, representing approximately 30,000 machinists, went on strike on September 13, after rejecting a proposed contract. 
Boeing has been thrust into the spotlight after announcing the furlough of tens of thousands of employees as its workers strike, halting production of the company's best-selling aircraft. This move, which impacts a wide range of U.S.-based executives, managers, and employees, comes amid a labor dispute with the International Association of Machinists and Aerospace Workers (IAM). The union, representing approximately 30,000 machinists, went on strike on September 13, after rejecting a proposed contract.
